Culver’s Franchisee Improves Finance Productivity by 50%

May 27 2019

S&L Companies is the largest franchisee for Culver’s, and is growing rapidly, having opened 23 stores over the past five years.  With such significant growth, S&L’s central finance team became strapped and found that their previous server-based accounting system was unable to produce the GAAP compliant, audit-ready financial statements required by lenders. S&L Companies recognized that it was critical to move to a new, cloud-based financial management solution.

Tammy Getschman, the director of accounting at S&L Companies, began inquiring within her finance community and was referred to Sage Intacct. “We were looking for a cloud-based solution to tie all of our entities together so we could minimize duplicate intercompany journal entries and gain the ability to slice and dice our financials by state, by the owner-operator, or by the property,” Getschman noted. “After looking at both systems, we were most impressed by Sage Intacct’s ability to easily consolidate our books and provide crucial transparency into profitability across restaurants.”

After implementing Sage Intacct, S&L Companies realized significant benefits, including:

Improved finance team productivity by 50%: S&L automated invoice approval workflows and eliminated the need to print and mail physical check payments.

Cut monthly close by 25%: Streamlined complex financial processes across several dozen operating and realty entities—from tracking individual store performance to allocating common health insurance invoices across multiple locations.

Scaled easily despite 134% growth: S&L was able to accommodate rapid growth without adding additional finance team members.

Five Month ROI: Based on business impact alone, S&L Companies estimates that switching to Sage Intacct paid for itself in the first five months of usage.

“The faster we grow, the more difficult it becomes for our two majority owners to maintain a hands-on approach with each restaurant,” said Getschman. “With Sage Intacct, we can now organize financials any way they need and provide better insight into the profitability of certain locations or groups of restaurants. With Sage Intacct, we are able to filter our financials by region to see trends and analyze key figures to determine which regions are able to sustain growth or need attention.”

For more information on how S&L Companies uses Sage Intacct, view the full case study. Please let us know if you’d like to learn more.